Thursday, June 01, 2006

Market, market, market...whoops

Marginal Revolution says:
In Knowledge and the Wealth of Nations, David Warsh notes in passing a bizarrely ironic use of markets by the Soviet KGB. It is 1984:

The Cold War is entering its climatic phase. There are war fears at the highest levels of government. In London, KGB agents have been directed to track the spot price offered by blood banks by officials worried that a sharp rise would be a signal that the West was preparing to mount a surprise attack.

I'm pretty sure blood donors were not paid for their blood in Britain in 1984. Still, the KGB guy could stay up at the Economic Mission on Highgate West Hill - there are a lot of worse places in London - and report every day, zero, zero, zero...

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